The New Yok Times reports that the ARAMCO IPO fell short of Saudi expectations.
"Investors balked..."
It seems that my assessment of the viability of the oil industry is more widely shared than I thought.
Am I a cynic? Sure. Ambrose Bierce's definition: "Cynic, n: a blackguard whose faulty vision sees things as they are, not as they ought to be."
Update 2023-03-03: Putin's War against Ukraine has upset earlier calculations about the fate of fossil fuels. In the long run, the war will delay the final collapse of that industry. Whether that collapse will take the form of a phasing out or just another part of a general collapse of our civilization remains to be seen.
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